DOING BUSINESS IN GHANA
Ghana – Japan SDG Seminar

Regulatory Framework
GIPC’s Mandate
The Ghana Investment Promotion Centre (GIPC) is a government agency established under Act
865 to promote, coordinate, and facilitate investment in the Ghanaian economy.
Functions include:
Investment advisory services
Negotiation of bilateral investment treaties
Joint venture facilitation
Registration of technology transfer agreements
Identification of specific projects for investment promotion
Grant of investment incentives and provision of investor support services
Registration of technology transfer agreements
GIPC works in close collaboration with public and private sector stakeholders

DOING
BUSINESSIN GHANAGIPC’s Mandate
Some of the public and private sector stakeholders GIPC works with include:
Ghana Free Zones Board
Minerals Commission
Petroleum Commission
Ghana Export Promotion Authority
Environmental Protection Agency
Ghana Revenue Authority
Bank of Ghana
Registrar Generals’ Department
Ghana Immigration ServiceAssociation of Ghana Industries
Ghana Chamber of Commerce and Industry
Ghana Chamber of Mines
Ministry of Finance
Ministry of Trade and Industry
Ministry of Foreign Affairs and Regional Integration
Private Enterprises FederationOthersDOINGBUSINESSIN GHANAGhanaOverview – Economic Indicators

GDPPopulation

31.6m

Growing young population with an emerging
middle class

GDP Growth

1.4% (2021)

2nd Largest
economy in West Africa(2018)

US$68.42BN

Diverse and robust economy rich in resources
including gold, cocoa and oil

GDP Per Capita
US$2,223

As at first quarter of 2021

As of 2020
US$630 in 2001 to US$2,223 in 2020
growing at an average annual rate of
7.47%.

Inflation

Trade Balance

US$68.42 billion
GDP (2020)

US$3.3 billion
US$1.11 billion
US$2.65 billion

Land Area: 238,535 sq km
Language: English
Currency: Ghana Cedis (GHS)

7.5%

Headline inflation dropping for the last 4
consecutive quarters

FDI inflows (2018, 2019, 2020)
Source: IMF WEO Oct 2020; Ghana Budget Statements ; Bank of Ghana, World Bank Data; World Investment Report 2020; Press releases

US$2BN (2020)

Improved Trade Balance Position
1st Trade Surplus after a decade of deficits

FDI TRENDS IN THE FACE OF THE GLOBAL PANDEMIC
GHANA’s FDI 2020
•According to the UNCTAD Investment Trends Monitor, global foreign direct investment (FDI)
collapsed in 2020, falling 42% from $1.5 trillion in 2019 to an estimated $859 billion. Thisconfirms the projections made by the World Investment Report (2020) about the pandemic
curtailing foreign investment in Africa in 2020 and by extension heighten the global
downturn trend.

•The year 2020 ended up very encouraging for Ghana with Ghana’s FDI value of US$2.65
billion placing the country third in West Africa and with Egypt and Nigeria recording FDI
inflows of US$5.50 billion and US$2.66 billion respectively. The Total FDI value of US$2.65
billion resulted in a significant increase of close to 140% over the US$1.11 billion recordedin 2019.

•Also, Provisional figures indicates that, a total FDI value of US$807.45 million has beenrecorded in the first half of 2021 (includes Q1 2021 figures from Petroleum Commission)•Ghana and by extension Africa remain optimistic and resilient in the face of this global
pandemic. As trading under the AfCFTA commenced in January 2021, it is expected toenhance competitiveness at the industry and enterprise level through exploitation ofopportunities for economies of scale and drive industrialization on the continent.

• Strong resource pool
• Largest gold producer in Africa• 2nd global producer of cocoa• 2nd largest oil producing country in West Africa• Large deposits of Bauxite, Iron Ore, Manganese, Lithium, Oil and Gas,Diamonds, Timber• Pristine shoreline• 13 million acres of suitable land for agriculture (Only 57.6% of the arable
land is currently cultivated)• Competitive and educated labor force• Availability of skilled and trainable labor• Competitive minimum wage in the West African region – GHC 11.82• One of the highest literacy rates in the West African subregion 76.6% as aresult of the recent introduction of Free Senior High School education andstrong drive towards technical and vocational education.
• Growing population and middle class and consumer market• Growing population of 2% p.a. with increasing urbanization and growing
middle class– composed of individuals with a daily income of at least $8.44 –exceeds 1m people, (KPMG)• Ghana ranked number 1 in Africa and 3 (2019) in the world on the Global
Retail Development Index with an estimated retail market of US$24 billion,
expected to grow to US$35 billion

 Commercial Agriculture
Light Manufacturing
 agro-processing and food import substitution specifically, inrice, poultry, cassava, sugar, and tomatoes
 Pharmaceuticals
 textiles & garments.
 ICT/digital economy
 tech start-ups - fintech, health Tec and aggrotech
 Business Process Outsourcing (BPOs)
 Tourism and Creative Arts (Film industry) Promoting Ghana as a regional financial, manufacturing andports & logistics hub by leveraging the African Continental Free
Trade Area (AfCFTA)
Key Sectors

______ _Doing Businessin Ghana
Setting up in Ghana

Investment procedure
1. Registration with Registrar General’s Department
Obtain a Certificate of incorporation with TIN number Company
Regulation Certificate to commence Business2. Minimum Equity Contribution
3. Registration with GIPCMINIMUM CAPITAL REQUIREMENT
Joint Ventures (JV) with Ghanaian partners are encouraged, 100% foreign
participation is permissible
Equity: US$200,000 for JV with Ghanaian partner (Min.10% ) US$500,000 for 100% foreign ownership US$1,000,000 for trading activity (Min. 20 Skilled Ghanaians)
Exemptions: Portfolio investment
 Manufacturing and export trade enterprises
 Foreign spouse of a citizen of Ghana
 Dual nationals

Doing Businessin Ghana
Setting up in Ghana

INVESTMENTOPPORTUNITIES• Seeking rewarding investment
partnerships and relationships
for growth and mutual benefit• Opportunities with great
prospects for growth andattractive returns in adiversified and fast-growingeconomy

Welcome to a land of limitless possibilities

We invite you to Grow in Ghana and Grow withGhana

THANK YOU
CONTACT US
Ghana Investment Promotion Centre
A1 Rangoon Lane, Cantonments-Accra, Ghana
Tel: +233 302 665125-9 Email: info@gipc.gov.gh

www.gipc.gov.gh
ghanagipc

gipcghana

Ghana Investment Promotion Centre

R. Yofi Grant, CEO, GIPC
yofi.grant@gipc.gov.gh